Question

Explain the role of commerce in trade and auxiliaries to trade.

Answer 1

Explain the role of commerce in trade and auxiliaries to trade?

Commerce, therefore, includes both, buying and selling of goods i.e. trade as well as the auxiliaries such as transport, banking, etc. Commerce provides the necessary link between producers and consumers. The term Industry refers to economic activities, which convert resourses into products and goods. Auxiliaries to Trade are Activities which are meant for assisting trade are known as auxiliaries to trade. These activities are generally, referred to as services because these are in the nature of facilitating the activities relating to industry and trade.

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